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XPS Pensions backs outlook as half-year revenue increases 13%

ALN

XPS Pensions Group PLC on Thursday said it is confident of meeting full-year expectations, reflecting strong demand from clients coping with regulatory changes, as well as new client and project wins.

The Reading, England-based pensions consultant and administrator said it has continued to perform strongly with revenue growing 13% on year, including organic growth of 8%, in the six months that ended September 30.

This is ‘particularly pleasing’ given the very strong performance in the prior year first half, it noted, and builds on ‘exceptionally strong’ aggregate revenue growth of 67% over the past three financial years.

Within this, Advisory revenue grew by 18% from a year before, Administration revenue by 6% and SIP revenue by 10%.

‘Strong demand from ongoing regulatory change, new client wins in all service lines and project wins in Risk Transfer, Insurance Consulting and Administration, continue to drive strong group revenue growth,’ XPS noted.

Shares in XPS Pensions rose 2.2% to 354.15 pence each in London on Thursday morning.

Polaris Actuaries & Consultants Ltd, bought in February, has integrated well and the business is performing in-line with expectations, XPS added.

XPS said the Pensions Act 2025, which it called the ‘most significant regulatory change of recent times’ in the UK, will drive additional consulting demand with regards to the best and most appropriate long-term strategy for the schemes.

XPS also continues to see strong demand for Risk Transfer.

In addition to these two drivers of growth, other opportunities include continued growth in Insurance Consulting and Administration in both the private and public sector, the firm added.

‘With strong revenue growth and disciplined cost management, the board is confident of achieving full year results in line with its previous expectations,’ it said.

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